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New CMS Pay Model Targets Soaring Drug Prices

Posted by www.psmbrokerage.com Admin on Thu, Oct 25, 2018 @ 04:24 PM

New CMS pay model targets
soaring drug prices

The Trump administration on Thursday accelerated its efforts to bring prescription drug prices under control.

Speaking at the Hubert Humphrey building, President Donald Trump announced a proposal that would shift Medicare Part B drugs to a level more closely aligned with prices in other countries. The CMS calls the program the International Pricing Index model. 

American taxpayers and patients are projected to save more than $17.2 billion over five years.

"In an era where the pharmaceutical industry is pricing drugs at levels approaching a million dollars—and jeopardizing the future of our safety-net programs—the time has come to fix the perverse incentives in the Medicare program that are fueling price increases," CMS Administrator Seema Verma said in a statement. 

The move from current payment levels to ones based on international prices would be phased in over a five-year period, would apply to 50% of the country, and would cover most drugs in Medicare Part B, which includes physician-administered medicines such as infusions.

Read the full article here

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Tags: Medicare Advantage, Medicare, Medicare News, Part D

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